First-time buyer mortgage applications experience New Year high

The beginning of 2017 has seen demand for 5% deposit home loans rise according to Yorkshire Building Society.

The society saw a 91% year-on-year increase in first-time buyers seeking a 95% LTV mortgage from January 2016 to January 2017.

Charles Mungroo, mortgage manager at Yorkshire Building Society, said: “More and more first-time buyers are trying to get their first step on to the property ladder so the demand for 95% LTV mortgages shows no sign of slowing down.